Monaco..?

**VCNetwork** · 03-26-2009 12:24 PM

Do you guys think Monaco will go under?? Their stock is at .09 a share. I just started playing the market, I have a lousy 1000 dollars in scottrade and I'm thinking of putting 500 into monaco because if they do come back I'll be freakin rich! ahha. So what do you think will they go under/

**Doodyps** · 03-26-2009 03:02 PM

$1000 is enough to invest with. If you are into taking risks, you may want to look into something like Citi bank.

Personally, i would buy about 100 shares of Permian Basin Royalty Trust. They pay a monthly dividend that changes with the price of oil. Last summer they were paying out $.28 a month when oil was $150. There are other royalty trusts out there with different ratios of oil/gas production. find some with large percentages of oil.

Oh, and if you really like risks, there is a stock (edvc, Endevco) that I had owned for a while. It trades at around .48 right now and loves to trade in .10 and .13 and .16 intervals, which is 30% and over. it will swing that way a few times a day. If you can cycle through those, buying low and selling high, you can make some money. I use Scottrade too though and for some reason they have restricted trading on some stocks that trade that way. I guess they don't want people manipulating such a small stock. Also, when you put in orders, they dont execute very fast because so few people trade it, so you dont always get what you want, but if you use limit orders you can protect yourself. Maybe other trading sites let you trade it since Scottrade won't right now.

**VCNetwork** · 03-26-2009 07:47 PM

Maybe other trading sites let you trade it since Scottrade won't right now.

So they wont let you buy and then turn around and sell right away?? Thats disappointing because that was the plan. I'm gona wait a few days and see what monaco does, if they start looking better I'll put 500 in them for long term and then play with my other 500

**Hockey4Life** · 03-26-2009 10:21 PM

I've been messing with the market for about 5 months now. I started with 2k and I'm up to $2800. However, I've been up to $3400 and down to $1400. Scary stuff, not for the faint of heart. But there is money to be made in the market.

I am now more confident in my trades. At first I made stupid mistakes... I would buy a stock at $6.00 and if it went to $5.50, I'd sell it thinking it was tanking. The next day it'd be at $7.50 and I was kicking myself! It's all about patience and nerves.

It's a rush though, today for example, I bought in a penny stock at .64. I watched it go up to .74, back down to .66 and then up to .72 when I finally sold. I was making $50 per cent. There's no other feeling in this world like making $50 in a split second right in front of your eyes. Losing it on the other hand gets frustrating!

Anyway, it's definitely fun and can be extremely lucrative if done right.

**Hockey4Life** · 03-26-2009 10:25 PM

Doodyps... I have found that with many cheap stocks like that, they will fluctuate but their asking prices will actually not change very much. For example, I was looking at buying a stock for .12 today because it is usually around .20-.22 but the asking price was .18. Is this the case with this stock too?

**Proph** · 03-27-2009 08:23 AM

i have actually been looking for a penny stock to drop about $1k into, keep the ideas coming (btw it looks like sirius radio has flattened out in the .30s, i am still kicking myself for missing it at .14).
Scottrade has been mentioned has anyone worked with ameritrade at all? good/ bad any annoying gotchas? Any other online trading houses that people have had positive experiences with? or negative for that matter.

**Hockey4Life** · 03-27-2009 10:41 AM

SogoTrade. This is who I use. Just $3 per trade. It is super easy, as soon as you put in an order it intitiates, I have never had any trouble with them!

If you decide to try them out, please use this link. It will give me 25 free trades if you do, it would be much appreciated! https://www.sogotrade.com/Setup/Default.aspx?rf=461758

Thanks!

**Doodyps** · 03-27-2009 12:06 PM

Originally Posted by Hockey4Life

Doodyps... I have found that with many cheap stocks like that, they will fluctuate but their asking prices will actually not change very much. For example, I was looking at buying a stock for .12 today because it is usually around .20-.22 but the asking price was .18. Is this the case with this stock too?

I'm not really sure. I don't trade penny stocks much, I mostly buy big companies. EDVC has been in the $4 range in the past few months. They are a wildcat oil/gas operation, so theyve been hit hard by the low oil prices and I would imagine it's hard for a lot of similar companies to get financing right now. They arent profitable yet. I'm not sure if EDVC experience that aslo, but i would guess it does since there are so few people trading it. The large swings it makes though offers a lot of opportunity. Just don't forget it takes your funds 3 days to settle with scottrade.

**Hockey4Life** · 03-27-2009 12:48 PM

BTW, some penny stocks... GLRP, FBR. Fluctuate pretty well, just look at the highs and lows and try to buy on the dips, pretty much a guaranteed thing they will be back up in a day or 2 if not a couple of hours.

Right now I am looking at ANX, very cheap stock which has been trading at 2x it's value in the past couple months. Plus, pharmaceuticals have been EXPLODING and this one could soon.